Institutional Asset Management

Speaker:   |  CPD Hours: 6.0

Price £595 plus VAT

New dates coming soon.


Many theoretical building blocks underpinning the history of investing have been sorely tested in recent years. Are markets ’Efficient’? Do we live in a statistically ‘Normal’ world? What happened to ‘Risk Free Rates of Return’ in the bond markets? These important issues will be addressed, from a practical perspective, to understand how today’s fund managers deal with such challenges.


Efficient Markets & Investing Strategies

  • Efficient Markets – are they?
  • Behavioural Finance & it’s impact on current thinking
  • What is the Equity Risk Premium? Is history to be a guide for the future?
  • Betas and the search for Alpha. Smart Beta
  • Diversification vs Correlation – tools to minimise risk in the portfolio
  • Can active management add value? The growth of Index Tracking
  • Case Study – Observing Beta at work in practice

Portfolio Performance Measurement & Attribution Analysis

  • What sort of returns do you want to measure exactly? Relative or Absolute?
  • Time-Weighted vs Money-Weighted Performance Measurement
  • Using a Portfolio Attribution model in Excel
  • What are the desirable properties of the ‘right’ Benchmark Index?
  • Problems with Benchmarks
  • The other impact on performance – Portfolio Turnover
  • The growth of Algorithmic Trading
  • Case Study – Share Turnover Velocity comparisons worldwide

Pension Fund Asset Allocation Strategies

  • The hidden time bomb – Dependency Ratios
  • Defined Benefit vs Defined Contribution Pensions
  • Liability Benchmarking – How would that work?
  • The relationship between Bond Yields & Present Value liabilities
  • How would LDI impact onto Portfolio Construction & Asset Allocation?
  • Which risks are still difficult to eliminate? Longevity risk
  • Case Study – Choosing an External Investment Manager

Risk Measurement and Management across the Investable Universe

  • Volatility – Statistical probability and the dispersion of returns
  • Do we live in a ‘Normal’ world?
  • Fat Tails in Finance & Black Swans explained
  • Case Study – Volatility in practice across the Mutual Fund Universe
  • Value at Risk – what is it & will it work?
  • Portfolio Optimisation and rebalancing – A tool to minimise Portfolio risk (Excel)
  • Sharpe & Information Ratios – Risk adjusted performance measurement
  • The Risk Parity approach to Asset Allocation
  • Wrap-up Quiz


This is aimed at professionals working at banks, asset managers, insurance companies and especially lawyers and accountants in Financial Services.

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